In a brutally frank analysis of the industry, NZ Herald journalist Anne Gibson wrote this piece about other failed construction companies and the effect it was having throughout the country – see: Recession hammered building firms, say chiefs

No government could not have prevented the recessionary effects of the Global Finance Crisis. But a more proactive government could have mitigated the harshest effects of the international recession with careful stimulation of the economy.

And by “stimulation” I do not refer to the wasteful, blunt-instrument-style tax cuts of 2009 and 2010. Those tax cuts added nothing to economic growth and only served to cut government revenue (see: Outlook slashes tax-take by $8b).

Thousands of jobs could have been saved. Thousands more jobs created.

A proactive government, with Ministers able to look ahead, would have immediatly implemented strategies to counter damaging recessionary effects;

increased investment, incentives, and subsidies for apprenticeships and other training/education for young people and other unemployed New Zealanders

reform of tax laws which see inefficient investment in speculative house-buying/selling less attractive, and re-direct investment into productive industry

National should never have allowed our economy to get where it is now.

This is a government that is derelict in it’s duty, and for Steven Joyce and his cronies to carp on about “overseas investment” is a moronic cargo-cult mentality that simply defies understanding.

If New Zealand businesses leaders and Captains of Commerce still believe that National is a “prudent manager of the economy” – then going by the last four years and events in the 1990s – I promise you that you will get what you richly deserve if they are re-elected in 2014 (or earlier).

Who does Mainzeal’s collapse benefit? A larger building company. I’m not suggesting a conspiracy but in the same way that AMI collapse benefited IAG (see who is on the board), Mainzeal’s will benefit Fletcher. It’s mates looking out for mates and we’re not their mates… so we’re acceptable collateral damage.

Re my 4.02pm post above , Spacemonkey. The concreter I was chatting to said he’s heard that another construction company (to confirm name) has offered some contractors to take over their contracts to complete jobs – but at half price.

I’m not sure about the validity of this; it’s one tradesman (owed $10k by Mainzeal) relating somnething he’s be told, to me.